Core Viewpoint - Bank of America Securities has upgraded AAC Technologies (02018) from "Neutral" to "Buy" due to improvements in fundamentals driven by smartphone component specification upgrades and a better environment for optical products [1] Financial Performance - The company is expected to achieve more stable growth and return to an upward cycle, with profit forecasts for 2025 to 2027 raised by 4% to 29% to reflect stronger margin performance [1] - Revenue is projected to experience double-digit growth from 2025 to 2027, with an improvement in profit margins [1] Valuation - The target price for AAC Technologies has been increased from HKD 44 to HKD 57, indicating a belief that more structural profit growth will support a revaluation of its stock [1] Market Position - The strategy of major competitor Sunny Optical Technology (02382) to shift towards the high-end market is expected to create greater growth opportunities for AAC Technologies in the mid-to-high-end market [1]
美银证券：上调瑞声科技(02018)评级至“买入” 目标价升至57港元